A City law firm has reported a “dramatic jump” in the number of professional negligence claims brought against surveyors and estate agents. According to Reynolds Porter Chamberlain (RPC), there were 25 commercial and residential High Court cases against estate agents or surveyors in 2009, compared with just one case over the previous five years. RPC [...]
XL Capital Ltd has stated that it has appointed Irene M. Esteves to the posts of executive vice president and chief financial officer. Esteves, who will join XL Capital on 17 May, brings more than two decades of financial sector experience, in both the US and around the world, to the firm. She will succeed [...]
PartnerRe Ltd. has announced that President and Chief Executive Officer Patrick Thiele is to retire from the firm, with effect from 31 December 2010. When he does so, Thiele will also relinquish his seat on the Board of Directors. Thiele will have occupied the posts of president and chief executive officer for just over 10 [...]
HSB Engineering Insurance has launched an equipment breakdown product which it says addresses the green issues faced by businesses. In the event of a claim, the new policy aims to reduce a firm’s carbon footprint and increase energy efficiency by contributing towards the additional cost of replacement equipment that is good for the environment. Cover [...]
The AXA Business Crime Index has shown a marginal 0.8% decline in the figures for reported business crime in 2009. However, the modest fall is outweighed by the continuing rise of the cost of crime, and the fact that violence is used in more than half of incidents. According to AXA’s information, 47% of UK [...]
ARAG has secured an agreement with Casualty & General (Europe) under which the latter will include ARAG’s commercial legal protection as an add-on to its specialist liability insurance offering for brokers. The enhancement will provide full commercial legal expenses insurance with unlimited telephone advice, plus online legal services support and a business tool that can [...]
Phoenix Group Holdings has announced the appointment of Jonathan Yates to the post of group finance director-designate. Yates has previously spent half a decade as chief executive of Life Assurance Holding Corporation (LAHC) and Windsor Life, a subsidiary of LAHC, from 2004 to 2009. The firm’s Board has accepted the resignation of Group Finance Director [...]
Crawford & Company UK has announced the appointment of Christine Millar to the position of Human Resources director. She brings to the role of HR director extensive experience in the financial sector, including in insurance and banking, and has occupied a wide range of posts during her career, from project management to financial services regulation [...]
Clive Cowdery’s Resolution Ltd has secured funding to bid for UK assets of Prudential, The Daily Telegraph reports. Prudential is in the process of acquiring AIA, the Asian business of the troubled American International Group, in a £23 billion cash and shares deal. The insurer has announced plans to raise funds via a £13 billion [...]
HomeLet’s comprehensive Tenant’s Contents Insurance+ policy is now available to students living in shared accommodation, providing them with an excellent degree of coverage against theft and accidental damage. The policy provides protection for the policyholder and two additional named tenants, and was previously only available to professional sharers. The average premium for three tenants is [...]
Kwik Fit Insurance, the insurance intermediary, has been awarded the Mental Health and Wellbeing Commendation Award from The Scottish Centre for Healthy Working Lives. The firm’s strong support of the mental wellbeing of its staff was cited as a primary reason for its award success, and further enhances its reputation for excellent work supporting employees. [...]
Prudential is reported to be considering pulling out of the UK in favour of Asian markets. The insurer is in the process of acquiring AIA from the troubled American International Group, in a bid to become South East Asia’s leading insurer. A £23 billion cash and shares deal has been agreed, with plans to raise [...]
The Association of British Insurers (ABI) has applauded the implementation of Ministry of Justice reforms aimed at speeding up road traffic accident personal injury claims. The reforms apply to claims valued at between £1,000 and £10,000, or almost 80% of all motor personal injury claims. The insurers’ body has been campaigning for a simpler, speedier [...]
